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Forex Cards Market By Type, By Industry Vertical, By End User: Global Opportunity Analysis and Industry Forecast, 2021-2031

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    Report

  • 260 Pages
  • July 2022
  • Region: Global
  • Allied Market Research
  • ID: 5671068
Description Jump to:
A forex card is a type of prepaid card in which the cardholder can load money in foreign currency. It is globally accepted, and users can either pay for their expenses using their forex card or withdraw cash in foreign currency at an ATM. A forex card is one of the easiest ways of carrying foreign currency when the user is travelling abroad. It can be used as a prepaid card which the can load with several popular currencies such as USD, EUR, CAD, GBP, AED, SGD and others. Once loaded, the card can then be used just like a debit card to pay for all the travel expenses in the local currency of the place the card holder is visiting.

Surge in tourism has led to the rise of adoption of forex card among users. In addition, forex cards protects users from fluctuations in foreign currency prices. Moreover, it protects users from paying additional charges while making transactions in a foreign country. Therefore, these are the major driving factors for the growth of the market. However, forex card charge ATM withdrawal charges while withdrawing money from any foreign country ATM. In addition, chances of getting the physical card stolen are some of the major factors limiting the growth of the forex card market. On the contrary, rise in demand for cash alternatives among users while travelling to other countries is expected to provide lucrative growth opportunities in the coming years.

The forex card market is segmented on the basis of type, industry vertical, end user, and region. By type, it is segmented into multi-currency forex card, and single currency forex card. By industry vertical, it is bifurcated into hospitality, consumer goods, education, and others. Based on end user, it is segregated into businesses and individuals. By region, it is analyzed across Asia-Pacific, Europe, North America, and LAMEA.
The report analyzes the profiles of key players operating in the forex card market such as Bank of America Corporation, Charles Schwab & Co., Inc., Citigroup Inc., CREDIT SUISSE GROUP AG, FINNEW SOLUTIONS PVT. LTD., JPMorganChase & Co., Morgan Stanley, Royal Bank of Canada, Thomascook.in, and UBS. These players have adopted various strategies to increase their market penetration and strengthen their position in the forex card industry.

KEY BENEFITS FOR STAKEHOLDERS

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the forex cards market analysis from 2021 to 2031 to identify the prevailing forex cards market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the forex cards market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global forex cards market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Type

  • Multi-currency Forex Card
  • Single Currency Forex Card

By Industry Vertical

  • Hospitality
  • Consumer Goods
  • Education
  • Others

By End User

  • Businesses
  • Individuals

By Region

  • North America
  • U.S.
  • Canada
  • Europe
  • United Kingdom
  • Germany
  • France
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe
  • Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Singapore
  • Rest of Asia-Pacific
  • LAMEA
  • Latin America
  • Middle East
  • Africa

Key Market Players

  • Bank of America Corporation
  • Charles Schwab & Co
  • Citigroup Inc.
  • CREDIT SUISSE GROUP.
  • JP Morgan Chase & Co.
  • Morgan Stanley
  • Niyo Global Card
  • Royal Bank of Canada
  • Thomas Cook
  • UBS

 

Please note:

  • Online Access price format is valid for 60 days access. Printing is not enabled.
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Table of Contents

CHAPTER 1: INTRODUCTION
1.1.Report description
1.2.Key market segments
1.3.Key benefits to the stakeholders
1.4.Research Methodology
1.4.1.Secondary research
1.4.2.Primary research
1.4.3.Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1.Key findings of the study
2.2.CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1.Market definition and scope
3.2.Key findings
3.2.1.Top investment pockets
3.3.Porter’s five forces analysis
3.4.Top player positioning
3.5.Market dynamics
3.5.1.Drivers
3.5.2.Restraints
3.5.3.Opportunities
3.6.COVID-19 Impact Analysis on the market
CHAPTER 4: FOREX CARDS MARKET, BY TYPE
4.1 Overview
4.1.1 Market size and forecast
4.2 Multi-currency Forex Card
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market analysis by country
4.3 Single Currency Forex Card
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market analysis by country
CHAPTER 5: FOREX CARDS MARKET, BY INDUSTRY VERTICAL
5.1 Overview
5.1.1 Market size and forecast
5.2 Hospitality
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market analysis by country
5.3 Consumer Goods
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market analysis by country
5.4 Education
5.4.1 Key market trends, growth factors and opportunities
5.4.2 Market size and forecast, by region
5.4.3 Market analysis by country
5.5 Others
5.5.1 Key market trends, growth factors and opportunities
5.5.2 Market size and forecast, by region
5.5.3 Market analysis by country
CHAPTER 6: FOREX CARDS MARKET, BY END USER
6.1 Overview
6.1.1 Market size and forecast
6.2 Businesses
6.2.1 Key market trends, growth factors and opportunities
6.2.2 Market size and forecast, by region
6.2.3 Market analysis by country
6.3 Individuals
6.3.1 Key market trends, growth factors and opportunities
6.3.2 Market size and forecast, by region
6.3.3 Market analysis by country
CHAPTER 7: FOREX CARDS MARKET, BY REGION
7.1 Overview
7.1.1 Market size and forecast
7.2 North America
7.2.1 Key trends and opportunities
7.2.2 North America Market size and forecast, by Type
7.2.3 North America Market size and forecast, by Industry Vertical
7.2.4 North America Market size and forecast, by End User
7.2.5 North America Market size and forecast, by country
7.2.5.1 U.S.
7.2.5.1.1 Market size and forecast, by Type
7.2.5.1.2 Market size and forecast, by Industry Vertical
7.2.5.1.3 Market size and forecast, by End User
7.2.5.2 Canada
7.2.5.2.1 Market size and forecast, by Type
7.2.5.2.2 Market size and forecast, by Industry Vertical
7.2.5.2.3 Market size and forecast, by End User
7.3 Europe
7.3.1 Key trends and opportunities
7.3.2 Europe Market size and forecast, by Type
7.3.3 Europe Market size and forecast, by Industry Vertical
7.3.4 Europe Market size and forecast, by End User
7.3.5 Europe Market size and forecast, by country
7.3.5.1 United Kingdom
7.3.5.1.1 Market size and forecast, by Type
7.3.5.1.2 Market size and forecast, by Industry Vertical
7.3.5.1.3 Market size and forecast, by End User
7.3.5.2 Germany
7.3.5.2.1 Market size and forecast, by Type
7.3.5.2.2 Market size and forecast, by Industry Vertical
7.3.5.2.3 Market size and forecast, by End User
7.3.5.3 France
7.3.5.3.1 Market size and forecast, by Type
7.3.5.3.2 Market size and forecast, by Industry Vertical
7.3.5.3.3 Market size and forecast, by End User
7.3.5.4 Italy
7.3.5.4.1 Market size and forecast, by Type
7.3.5.4.2 Market size and forecast, by Industry Vertical
7.3.5.4.3 Market size and forecast, by End User
7.3.5.5 Spain
7.3.5.5.1 Market size and forecast, by Type
7.3.5.5.2 Market size and forecast, by Industry Vertical
7.3.5.5.3 Market size and forecast, by End User
7.3.5.6 Netherlands
7.3.5.6.1 Market size and forecast, by Type
7.3.5.6.2 Market size and forecast, by Industry Vertical
7.3.5.6.3 Market size and forecast, by End User
7.3.5.7 Rest of Europe
7.3.5.7.1 Market size and forecast, by Type
7.3.5.7.2 Market size and forecast, by Industry Vertical
7.3.5.7.3 Market size and forecast, by End User
7.4 Asia-Pacific
7.4.1 Key trends and opportunities
7.4.2 Asia-Pacific Market size and forecast, by Type
7.4.3 Asia-Pacific Market size and forecast, by Industry Vertical
7.4.4 Asia-Pacific Market size and forecast, by End User
7.4.5 Asia-Pacific Market size and forecast, by country
7.4.5.1 China
7.4.5.1.1 Market size and forecast, by Type
7.4.5.1.2 Market size and forecast, by Industry Vertical
7.4.5.1.3 Market size and forecast, by End User
7.4.5.2 India
7.4.5.2.1 Market size and forecast, by Type
7.4.5.2.2 Market size and forecast, by Industry Vertical
7.4.5.2.3 Market size and forecast, by End User
7.4.5.3 Japan
7.4.5.3.1 Market size and forecast, by Type
7.4.5.3.2 Market size and forecast, by Industry Vertical
7.4.5.3.3 Market size and forecast, by End User
7.4.5.4 Australia
7.4.5.4.1 Market size and forecast, by Type
7.4.5.4.2 Market size and forecast, by Industry Vertical
7.4.5.4.3 Market size and forecast, by End User
7.4.5.5 Singapore
7.4.5.5.1 Market size and forecast, by Type
7.4.5.5.2 Market size and forecast, by Industry Vertical
7.4.5.5.3 Market size and forecast, by End User
7.4.5.6 Rest of Asia-Pacific
7.4.5.6.1 Market size and forecast, by Type
7.4.5.6.2 Market size and forecast, by Industry Vertical
7.4.5.6.3 Market size and forecast, by End User
7.5 LAMEA
7.5.1 Key trends and opportunities
7.5.2 LAMEA Market size and forecast, by Type
7.5.3 LAMEA Market size and forecast, by Industry Vertical
7.5.4 LAMEA Market size and forecast, by End User
7.5.5 LAMEA Market size and forecast, by country
7.5.5.1 Latin America
7.5.5.1.1 Market size and forecast, by Type
7.5.5.1.2 Market size and forecast, by Industry Vertical
7.5.5.1.3 Market size and forecast, by End User
7.5.5.2 Middle East
7.5.5.2.1 Market size and forecast, by Type
7.5.5.2.2 Market size and forecast, by Industry Vertical
7.5.5.2.3 Market size and forecast, by End User
7.5.5.3 Africa
7.5.5.3.1 Market size and forecast, by Type
7.5.5.3.2 Market size and forecast, by Industry Vertical
7.5.5.3.3 Market size and forecast, by End User
CHAPTER 8: COMPANY LANDSCAPE
8.1. Introduction
8.2. Top winning strategies
8.3. Product Mapping of Top 10 Player
8.4. Competitive Dashboard
8.5. Competitive Heatmap
8.6. Key developments
CHAPTER 9: COMPANY PROFILES
9.1 Bank of America Corporation
9.1.1 Company overview
9.1.2 Company snapshot
9.1.3 Operating business segments
9.1.4 Product portfolio
9.1.5 Business performance
9.1.6 Key strategic moves and developments
9.2 Charles Schwab & Co
9.2.1 Company overview
9.2.2 Company snapshot
9.2.3 Operating business segments
9.2.4 Product portfolio
9.2.5 Business performance
9.2.6 Key strategic moves and developments
9.3 Citigroup Inc.
9.3.1 Company overview
9.3.2 Company snapshot
9.3.3 Operating business segments
9.3.4 Product portfolio
9.3.5 Business performance
9.3.6 Key strategic moves and developments
9.4 CREDIT SUISSE GROUP.
9.4.1 Company overview
9.4.2 Company snapshot
9.4.3 Operating business segments
9.4.4 Product portfolio
9.4.5 Business performance
9.4.6 Key strategic moves and developments
9.5 JP Morgan Chase & Co.
9.5.1 Company overview
9.5.2 Company snapshot
9.5.3 Operating business segments
9.5.4 Product portfolio
9.5.5 Business performance
9.5.6 Key strategic moves and developments
9.6 Morgan Stanley
9.6.1 Company overview
9.6.2 Company snapshot
9.6.3 Operating business segments
9.6.4 Product portfolio
9.6.5 Business performance
9.6.6 Key strategic moves and developments
9.7 Niyo Global Card
9.7.1 Company overview
9.7.2 Company snapshot
9.7.3 Operating business segments
9.7.4 Product portfolio
9.7.5 Business performance
9.7.6 Key strategic moves and developments
9.8 Royal Bank of Canada
9.8.1 Company overview
9.8.2 Company snapshot
9.8.3 Operating business segments
9.8.4 Product portfolio
9.8.5 Business performance
9.8.6 Key strategic moves and developments
9.9 Thomas Cook
9.9.1 Company overview
9.9.2 Company snapshot
9.9.3 Operating business segments
9.9.4 Product portfolio
9.9.5 Business performance
9.9.6 Key strategic moves and developments
9.10 UBS
9.10.1 Company overview
9.10.2 Company snapshot
9.10.3 Operating business segments
9.10.4 Product portfolio
9.10.5 Business performance
9.10.6 Key strategic moves and developments
List of Tables
Table 1. Global Neurothrombectomy Devices Market, by Product Type, 2021-2031,($Million)
Table 2. Neurothrombectomy Devices Market Revenue, for Clot Retrieval Devices, by Region , 2021-2031,($Million)
Table 3. Neurothrombectomy Devices Market for Clot Retrieval Devices by Country, 2021-2031,($Million)
Table 4. Neurothrombectomy Devices Market Revenue, for Aspiration Devices, by Region , 2021-2031,($Million)
Table 5. Neurothrombectomy Devices Market for Aspiration Devices by Country, 2021-2031,($Million)
Table 6. Neurothrombectomy Devices Market Revenue, for Snares, by Region , 2021-2031,($Million)
Table 7. Neurothrombectomy Devices Market for Snares by Country, 2021-2031,($Million)
Table 8. Global Neurothrombectomy Devices Market, by End-user, 2021-2031,($Million)
Table 9. Neurothrombectomy Devices Market Revenue, for Hospitals, by Region , 2021-2031,($Million)
Table 10. Neurothrombectomy Devices Market for Hospitals by Country, 2021-2031,($Million)
Table 11. Neurothrombectomy Devices Market Revenue, for Specialty Clinics, by Region , 2021-2031,($Million)
Table 12. Neurothrombectomy Devices Market for Specialty Clinics by Country, 2021-2031,($Million)
Table 13. Neurothrombectomy Devices Market Revenue, for Others, by Region , 2021-2031,($Million)
Table 14. Neurothrombectomy Devices Market for Others by Country, 2021-2031,($Million)
Table 15. Neurothrombectomy Devices Market, by Region, 2021-2031,($Million)
Table 16. North America Neurothrombectomy Devices Market, by Product Type, 2021-2031,($Million)
Table 17. North America Neurothrombectomy Devices Market, by End-user, 2021-2031,($Million)
Table 18. North America Neurothrombectomy Devices Market, by Country, 2021-2031,($Million)
Table 19. U.S. Neurothrombectomy Devices Market, by Product Type, 2021-2031,($Million)
Table 20. U.S. Neurothrombectomy Devices Market, by End-user, 2021-2031,($Million)
Table 21. Canada Neurothrombectomy Devices Market, by Product Type, 2021-2031,($Million)
Table 22. Canada Neurothrombectomy Devices Market, by End-user, 2021-2031,($Million)
Table 23. Mexico Neurothrombectomy Devices Market, by Product Type, 2021-2031,($Million)
Table 24. Mexico Neurothrombectomy Devices Market, by End-user, 2021-2031,($Million)
Table 25. Europe Neurothrombectomy Devices Market, by Product Type, 2021-2031,($Million)
Table 26. Europe Neurothrombectomy Devices Market, by End-user, 2021-2031,($Million)
Table 27. Europe Neurothrombectomy Devices Market, by Country, 2021-2031,($Million)
Table 28. Germany Neurothrombectomy Devices Market, by Product Type, 2021-2031,($Million)
Table 29. Germany Neurothrombectomy Devices Market, by End-user, 2021-2031,($Million)
Table 30. France Neurothrombectomy Devices Market, by Product Type, 2021-2031,($Million)
Table 31. France Neurothrombectomy Devices Market, by End-user, 2021-2031,($Million)
Table 32. U.K. Neurothrombectomy Devices Market, by Product Type, 2021-2031,($Million)
Table 33. U.K. Neurothrombectomy Devices Market, by End-user, 2021-2031,($Million)
Table 34. Italy Neurothrombectomy Devices Market, by Product Type, 2021-2031,($Million)
Table 35. Italy Neurothrombectomy Devices Market, by End-user, 2021-2031,($Million)
Table 36. Spain Neurothrombectomy Devices Market, by Product Type, 2021-2031,($Million)
Table 37. Spain Neurothrombectomy Devices Market, by End-user, 2021-2031,($Million)
Table 38. Rest of Europe Neurothrombectomy Devices Market, by Product Type, 2021-2031,($Million)
Table 39. Rest of Europe Neurothrombectomy Devices Market, by End-user, 2021-2031,($Million)
Table 40. Asia-Pacific Neurothrombectomy Devices Market, by Product Type, 2021-2031,($Million)
Table 41. Asia-Pacific Neurothrombectomy Devices Market, by End-user, 2021-2031,($Million)
Table 42. Asia-Pacific Neurothrombectomy Devices Market, by Country, 2021-2031,($Million)
Table 43. Japan Neurothrombectomy Devices Market, by Product Type, 2021-2031,($Million)
Table 44. Japan Neurothrombectomy Devices Market, by End-user, 2021-2031,($Million)
Table 45. China Neurothrombectomy Devices Market, by Product Type, 2021-2031,($Million)
Table 46. China Neurothrombectomy Devices Market, by End-user, 2021-2031,($Million)
Table 47. Australia Neurothrombectomy Devices Market, by Product Type, 2021-2031,($Million)
Table 48. Australia Neurothrombectomy Devices Market, by End-user, 2021-2031,($Million)
Table 49. India Neurothrombectomy Devices Market, by Product Type, 2021-2031,($Million)
Table 50. India Neurothrombectomy Devices Market, by End-user, 2021-2031,($Million)
Table 51. South Korea Neurothrombectomy Devices Market, by Product Type, 2021-2031,($Million)
Table 52. South Korea Neurothrombectomy Devices Market, by End-user, 2021-2031,($Million)
Table 53. Rest of Asia-Pacific Neurothrombectomy Devices Market, by Product Type, 2021-2031,($Million)
Table 54. Rest of Asia-Pacific Neurothrombectomy Devices Market, by End-user, 2021-2031,($Million)
Table 55. LAMEA Neurothrombectomy Devices Market, by Product Type, 2021-2031,($Million)
Table 56. LAMEA Neurothrombectomy Devices Market, by End-user, 2021-2031,($Million)
Table 57. LAMEA Neurothrombectomy Devices Market, by Country, 2021-2031,($Million)
Table 58. Brazil Neurothrombectomy Devices Market, by Product Type, 2021-2031,($Million)
Table 59. Brazil Neurothrombectomy Devices Market, by End-user, 2021-2031,($Million)
Table 60. Saudi Arabia Neurothrombectomy Devices Market, by Product Type, 2021-2031,($Million)
Table 61. Saudi Arabia Neurothrombectomy Devices Market, by End-user, 2021-2031,($Million)
Table 62. South Africa Neurothrombectomy Devices Market, by Product Type, 2021-2031,($Million)
Table 63. South Africa Neurothrombectomy Devices Market, by End-user, 2021-2031,($Million)
Table 64. Rest of LAMEA Neurothrombectomy Devices Market, by Product Type, 2021-2031,($Million)
Table 65. Rest of LAMEA Neurothrombectomy Devices Market, by End-user, 2021-2031,($Million)
Table 66. Medtronic: Company Snapshot
Table 67. Medtronic: Operating Segments
Table 68. Medtronic: Product Portfolio
Table 69. Medtronic: Net Sales
Table 70. Medtronic: Key Stratergies
Table 71. Stryker Corporation: Company Snapshot
Table 72. Stryker Corporation: Operating Segments
Table 73. Stryker Corporation: Product Portfolio
Table 74. Stryker Corporation: Net Sales
Table 75. Stryker Corporation: Key Stratergies
Table 76. Acandis GmbH: Company Snapshot
Table 77. Acandis GmbH: Operating Segments
Table 78. Acandis GmbH: Product Portfolio
Table 79. Acandis GmbH: Net Sales
Table 80. Acandis GmbH: Key Stratergies
Table 81. Penumbra Inc.: Company Snapshot
Table 82. Penumbra Inc.: Operating Segments
Table 83. Penumbra Inc.: Product Portfolio
Table 84. Penumbra Inc.: Net Sales
Table 85. Penumbra Inc.: Key Stratergies
Table 86. Phenox GmbH: Company Snapshot
Table 87. Phenox GmbH: Operating Segments
Table 88. Phenox GmbH: Product Portfolio
Table 89. Phenox GmbH: Net Sales
Table 90. Phenox GmbH: Key Stratergies
Table 91. Vesalio: Company Snapshot
Table 92. Vesalio: Operating Segments
Table 93. Vesalio: Product Portfolio
Table 94. Vesalio: Net Sales
Table 95. Vesalio: Key Stratergies
Table 96. Microvention Inc.: Company Snapshot
Table 97. Microvention Inc.: Operating Segments
Table 98. Microvention Inc.: Product Portfolio
Table 99. Microvention Inc.: Net Sales
Table 100. Microvention Inc.: Key Stratergies
Table 101. Boston Scientific Corporation: Company Snapshot
Table 102. Boston Scientific Corporation: Operating Segments
Table 103. Boston Scientific Corporation: Product Portfolio
Table 104. Boston Scientific Corporation: Net Sales
Table 105. Boston Scientific Corporation: Key Stratergies
Table 106. Teleflex Incorporated: Company Snapshot
Table 107. Teleflex Incorporated: Operating Segments
Table 108. Teleflex Incorporated: Product Portfolio
Table 109. Teleflex Incorporated: Net Sales
Table 110. Teleflex Incorporated: Key Stratergies
List of Figures
Figure 1. Forex Cards Market Segmentation
Figure 2. Forex Cards Market,2021-2031
Figure 3. Forex Cards Market,2021-2031
Figure 4. Top Investment Pockets, by Region
Figure 5. Porter Five-1
Figure 6. Porter Five-2
Figure 7. Porter Five-3
Figure 8. Porter Five-4
Figure 9. Porter Five-5
Figure 10. Top Player Positioning
Figure 11. Forex Cards Market:Drivers, Restraints and Opportunities
Figure 12. Forex Cards Market,By Type,2021(%)
Figure 13. Comparative Share Analysis of Multi-Currency Forex Card Forex Cards Market,2021-2031(%)
Figure 14. Comparative Share Analysis of Single Currency Forex Card Forex Cards Market,2021-2031(%)
Figure 15. Forex Cards Market,By Industry Vertical,2021(%)
Figure 16. Comparative Share Analysis of Hospitality Forex Cards Market,2021-2031(%)
Figure 17. Comparative Share Analysis of Consumer Goods Forex Cards Market,2021-2031(%)
Figure 18. Comparative Share Analysis of Education Forex Cards Market,2021-2031(%)
Figure 19. Comparative Share Analysis of Others Forex Cards Market,2021-2031(%)
Figure 20. Forex Cards Market,By End-user,2021(%)
Figure 21. Comparative Share Analysis of Businesses Forex Cards Market,2021-2031(%)
Figure 22. Comparative Share Analysis of Individuals Forex Cards Market,2021-2031(%)
Figure 23. Forex Cards Market by Region,2021
Figure 24. U.S. Forex Cards Market,2021-2031($Billion)
Figure 25. Canada Forex Cards Market,2021-2031($Billion)
Figure 26. United Kingdom Forex Cards Market,2021-2031($Billion)
Figure 27. Germany Forex Cards Market,2021-2031($Billion)
Figure 28. France Forex Cards Market,2021-2031($Billion)
Figure 29. Italy Forex Cards Market,2021-2031($Billion)
Figure 30. Spain Forex Cards Market,2021-2031($Billion)
Figure 31. Netherlands Forex Cards Market,2021-2031($Billion)
Figure 32. Rest of Europe Forex Cards Market,2021-2031($Billion)
Figure 33. China Forex Cards Market,2021-2031($Billion)
Figure 34. India Forex Cards Market,2021-2031($Billion)
Figure 35. Japan Forex Cards Market,2021-2031($Billion)
Figure 36. Australia Forex Cards Market,2021-2031($Billion)
Figure 37. Singapore Forex Cards Market,2021-2031($Billion)
Figure 38. Rest of Asia-Pacific Forex Cards Market,2021-2031($Billion)
Figure 39. Latin America Forex Cards Market,2021-2031($Billion)
Figure 40. Middle East Forex Cards Market,2021-2031($Billion)
Figure 41. Africa Forex Cards Market,2021-2031($Billion)
Figure 42. Top Winning Strategies, by Year
Figure 43. Top Winning Strategies, by Development
Figure 44. Top Winning Strategies, by Company
Figure 45. Product Mapping of Top 10 Players
Figure 46. Competitive Dashboard
Figure 47. Competitive Heatmap of Top 10 Key Players
Figure 48. Bank of America Corporation.: Net Sales ,($Billion)
Figure 49. Charles Schwab & Co.: Net Sales ,($Billion)
Figure 50. Citigroup Inc..: Net Sales ,($Billion)
Figure 51. Credit Suisse Group..: Net Sales ,($Billion)
Figure 52. Jp Morgan Chase & Co..: Net Sales ,($Billion)
Figure 53. Morgan Stanley.: Net Sales ,($Billion)
Figure 54. Niyo Global Card.: Net Sales ,($Billion)
Figure 55. Royal Bank of Canada.: Net Sales ,($Billion)
Figure 56. Thomas Cook.: Net Sales ,($Billion)
Figure 57. Ubs.: Net Sales ,($Billion)

Executive Summary

According to the report, titled, “Forex Cards Market," the forex cards market size was valued at $260.34 billion in 2021, and is estimated to reach $1,196.52 billion by 2031, growing at a CAGR of 16.6% from 2022 to 2031.

Cardholders can also use their credit or debit cards issued from an existing bank account to withdraw money anywhere in the world. These cards are generally linked to the savings account with a credit limit. However, credit and debit cards are very expensive when it comes to withdrawing foreign currency from ATMs abroad. Forex cards, however, are prepaid instruments designated in specific foreign currency to carry a specific amount. The cards are pre-loaded with currency and are not linked to any particular bank account. This way, when a forex card gets pre-loaded with the destination’s currency, the exchange rates are locked-in, and the user get protected from currency rate fluctuations. Hence, they pay lesser charges while transacting through forex cards than either debit or credit cards.

Moreover, major market players are adopting various strategies such as partnering with tour companies or airline companies to launch their forex card to get wider customer reach. For instance, Vistara and Axis Bank launched a co-branded forex card that can load up to 16 currencies. The card has locked-in exchange rates and the card holder will accrue 3 award points on Club Vistara for every USD 5 or an equivalent value spent. Moreover, the forex card can load up to 16 currencies and has various emergency assistance services such as loss of passport assistance through TripAssist and insurance cover of up to Rs 3 lakh. Therefore, such strategies adopted by market player will provide major lucrative opportunities for the forex cards market growth in the upcoming years.

On the basis of end user, the businesses segment is the highest growing segment. This is attributed to the fact that forex prepaid cards come with flexible approvals to fit business processes whether the owner need multiple approvers, approval thresholds, special approval permissions, or different approval flows for different credit lines. Business owners can determine who can approve or request credit cards within the business, and cards can even be assigned to a single or multiple cardholders.

Based on region, North America attained the highest growth in 2021. This is attributed to the fact that as consumer travel spends increase, it will open up a huge market in North America for banks and forex card issuers to work with travel companies, and improve the consumer experience. Many issuers are AI-enabling customer onboarding to balance the need for these compliance requirements with growing cardholder expectations for a quick and frictionless onboarding process.

The COVID-19 pandemic negatively impacted the forex cards industry as it is dependent upon the number of travelers going out of their country for vacation or business purpose. However, there was a decrease in the demand for forex card owing to lockdown imposed during the pandemic. Therefore, the COVID-19 had a negative impact on the forex cards market trends. However, the demand for forex travel card increased tremendously among the travelers with the lift up of lockdown.

Key Findings of the Study

  • By type, the multi-currency forex card segment led the forex card market in terms of revenue in 2021.
  • By industry vertical, the hospitality segment accounted for the highest forex cards market share in 2021.
  • By region, North America generated the highest revenue in 2021.
  • The key players profiled in the forex cards market analysis are Bank of America Corporation, Charles Schwab & Co., Inc., Citigroup Inc., CREDIT SUISSE GROUP AG, FINNEW SOLUTIONS PVT. LTD., JPMorganChase & Co., Morgan Stanley, Royal Bank of Canada, Thomascook.in, and UBS. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

Companies Mentioned

  • Bank of America Corporation
  • Charles Schwab & Co
  • Citigroup Inc.
  • Credit Suisse Group.
  • Jp Morgan Chase & Co.
  • Morgan Stanley
  • Niyo Global Card
  • Royal Bank of Canada
  • Thomas Cook
  • Ubs

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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